Alvogen today announced that it has expanded operations in Eastern Europe and has opened an office in Bucharest, Romania.
First products scheduled for market introduction early in 2010
PARSIPPANY, NEW JERSEY, USA – January 14, 2009 – Alvogen, Inc. (Alvogen), the U.S.-based pharmaceutical company, today announced that it has expanded operations in Eastern Europe and has opened an office in Bucharest, Romania. Alvogen Romania primarily will focus on sales and marketing to support several new products scheduled for introduction during 2010. The company also will employ regulatory and pharmacovigilance expertise within the newly formed business.
“We see great opportunities for our business in Eastern Europe, and the creation of Alvogen Romania is integral to our development strategy. Through registration of our own products, portfolio acquisitions and strategic partnerships, we aim to build a strong presence in the market with a targeted product offering,” said Robert Wessman, Executive Chairman of Alvogen. Wessman is the former chief executive of Actavis, one of the largest generic pharmaceutical companies in the world.
Alvogen Romania will be led by Laurentiu Scheusan, a recognized expert in the Romanian pharmaceutical market who formerly managed local operations for generic pharmaceuticals company Actavis. In his role as Managing Director of Alvogen Romania, Scheusan will lead more than 60 new employees who have measurable experience within the local pharmaceutical industry.
The well-established, Romanian pharmaceutical market generates annual sales totaling $3 billion (USD), and Alvogen believes the market will experience strong growth as the Romanian healthcare infrastructure improves.
“Within the next five years we aim to be one of the leading pharmaceutical companies in Romania, based upon our reputation of high quality products and services,” said Doug Drysdale, Chief Executive Officer of Alvogen. “It is our vision to set a new standard for the generic pharmaceutical business, enhance the quality of life for patients and deliver exceptional value to our customers,” said Drysdale.
About Alvogen Alvogen is a multinational pharmaceuticals company focused on complex generic products. Alvogen is committed to build the next-generation generics company through the strategic selection of products, partners and markets, and the utilization of a consolidated global supply chain. The company has more than 130 pharmaceutical products in development and registration with several products expected to be launched in 2010. The product portfolio consists of a broad range of leading molecules for the treatment of conditions in the areas of Oncology, Cardiology, Respiratory, Neurology and Gastroenterology.
With more than 100 years in operation, Alvogen possesses first-class regulatory, development and manufacturing capabilities in Asia, Europe and North America. Visit www.alvogen.com for additional information.